Zhejiang province, pioneering in e-commerce and e-payment, released a listing of towns with distinctive features on Aug 2, in a bid to boost innovation and economic development.

Since its inception in August 2014, three batches of characteristic towns have been rolled out with over one hundred towns set up as important platforms for industrial innovation in Zhejiang.

According to authorities, a characteristic town is neither a town defined administratively nor an industrial zone. Independent from the downtown, it is a developing platform with specific industry orientation, cultural connotation, tourism features and community functions.

The Dream Town in the capital city Hangzhou, a provincial level characteristic town, is famed as a holy land for entrepreneurs due to its favorable environment for start-ups.

In the past two years, the Dream Town has seen the rise of some 1,080 start-up projects, attracted about 10,000 entrepreneurs and reported over four billion yuan ($592.97 million) in project financing.

The Dream Town in Hangzhou, Zhejiang province. [Photo/WeChat Account Yongjinlou]